News: Brokerage

Outside the Region: Mall of America chooses Park Assist’s M4 Smart-Sensor Parking Guidance System

Bloomington, MN Park Assist has been awarded the Parking Guidance System (PGS) contract for Mall of America, serving more than 12,000 parking spaces over two garages and four surface lots. The nearly 5 million s/f mall features over 500 shops, 168,000 s/f of office space, an indoor amusement park, aquarium and two hotels. Triple Five Group invested in Park Assist’s M4 camera-based smart-sensor powered technology for the latest integrative capabilities that ease the car-finding process for visitors, upon both entry and exit, and offer additional safety features in the parking lots.

The project is part of a joint effort by Mall of America and the city to reduce traffic buildup by effectively guiding customers to open parking spaces and elevating the overall visitor experience. 

The M4 camera based smart-sensor system uses integrated License Plate Recognition (LPR) technology as well as digital directional signage, guiding drivers to the nearest available space. Park Assist’s signage is configured to display real-time parking availability throughout the facility’s over 12,000 spaces. “We are excited to be a part of Mall of America and the City of Bloomington’s efforts to reduce congestion and elevate their parkers’ experience. Park Assist is proud to have designed a solution for one of America’s premier shopping centers.”, said Gary Neff, CEO of Park Assist.

Mall of America visitors will now enjoy effortless parking with guidance throughout the garages and even back to their car using Park Assist’s Find Your Car™ feature via the mall’s mobile app-.

In addition to sensors and intuitive controls, Park Assist’s Park Surveillance™ feature will be deployed to the project scope to serve as a security enhancement. With the addition of Park Surveillance™, the camera based system can capture streaming video continuously or whenever motion is detected in or around a space.

Park Assist is also excited to announce the roll out of the new Park Surface™ pilot program. Park Surface provides the same level of smart guidance technology to outdoor surface and deck parking facilities thereby extending the ease of parking feature to outdoor parkers as well.

Installation began in July and will be completed by November 1, 2018, just in time to alleviate the stress of parking during the holiday shopping season.

MORE FROM Brokerage

Horvath & Tremblay Announces Strategic Integration of B6 Real Estate Advisors, Expanding New York City Presence

New York, NY Horvath & Tremblay, a premier real estate services firm specializing in investment real estate brokerage, 1031 exchanges, debt/equity placement, and appraisal & valuation services, announced the strategic integration of B6 Real Estate Advisors into the firm’s growing national platform.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced